The Trump Family Backs Mining Firm American Bitcoin, Stock Price Surges 17% on First Day of Trading, Eric Trump's Holdings Valued at Over $500 Million

On September 4th, during the listing debut of mining company American Bitcoin (with the code ABTC) supported by the Trump family, the stock price increased by nearly 17% to $8.04 per share, and reached a high of $14 during the trading session. The trading volume of the stock on the first day exceeded 29 million shares. Eric Trump stated, "We possess a core, high-quality mining operation. Currently, the mining costs are only 50% of the Bitcoin market price. The company holds hundreds of millions of dollars' worth of hardware assets and data centers... While others can only purchase at face value, we can acquire Bitcoin at a significant discount." According to Bloomberg's estimation, the successful listing of American Bitcoin indicates that the stake held by Eric Trump, the second son of Trump, is valued at more than $500 million. Founded in March of this year, American Bitcoin is a cryptocurrency mining and holding company co-founded by Eric Trump and supported by Donald Trump Jr. (the eldest son). In June, American Bitcoin raised $220 million through a private placement of 11 million new shares. Hut 8 holds 80% of its shares, while the remaining 20% is controlled by American Data Centers, which is supported by the Trump brothers. Eric Trump serves as the company's Chief Strategy Officer.